Overview:
USD/CHF is trading in higher range. The rate is underpinned by positive USD sentiment; franc sales on rebounding EUR/CHF cross. Daily chart is mixed as MACD is bearish, 5- and 15-day moving averages are falling; but stochastics have turned bullish at oversold.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in higher range as far as it remains above its pivot point. As far as the price is above its pivot point, trading in higher range is most favorable and buy position is recommended above its pivot with the first target at 0.944 and the second target at 0.9475. You should keep in view short position below the pivot keep of the first target at 0.93, breach of this target will move the pair downward further and expect the second target at 0.9245. The pivot point stands at 0.9335.
Resistance Levels:
R1 - 0.944
R2 - 0.9475
R3 - 0.95
Support Levels:
S1 - 0.93
S2 - 0.9245
S3 - 0.92